Smithers town council approved the draft of its ‘Tax Exemption Incentive Program’ plan during its meeting Tuesday night.
The draft plan will now be ready to be presented to stakeholders and follows the council’s outlined project timeline.
The plan has been updated to more accurately define the designated zoning area (the area will be limited to the downtown core, defined as the area between King and Queen Street and between Railway Avenue and Highway 16), and adds one new construction criteria – 50% of the renovation upgrades has to pertain to renovations to the auxiliary residence dwelling unit (one must add a new residential dwelling to an existing building) to be eligible for the incentive.
Mayor Taylor Bachrach says increasing residential density downtown has always been part of council’s Official Community Plan.
“This is something we have talked about a lot and this is the first concrete step we are taking towards that goal.”
Council also addressed questions if the incentive would be ready for developers to use by the next construction season.
“It might be a little bit optimistic but it’s possible, and not outside the realm of possibility.”
The next step in the project timeline is set for January and will include the advertisement of the consultation process and to contact key stakeholders.